Best Type of Financial Institution To Get HELOC From

[Steve Gessner]

Hey BP Community, I'm wondering if there are advantages/disadvantages from getting a HELOC from a local bank or a mortgage company. Will either have a greater likelihood of offering a higher credit line?

I'm planning on acquiring a HELOC on my primary residence to help me with the down payment/expenses of my first investment property.

Second part of the question, has anyone used a HELOC to help finance an investment property? Are there any downsides to this idea?